How do I amend when the item I am changing does not appear on TT's list of "why are you amending?" choices?

lschwabenbauer — Thu, 06 Jun 2019 09:52:28 GMT

My cost basis on 1099B was incorrect and I just caught it. I know where to enter cost basis on my return. In TT, you can choose "Amend my 2016 tax return" and you get a screen listing possible reasons that then allow you to change those areas. 1099B is not listed, however. What do I do? Thanks.

Once you have started the amendment process, select I nee...

MichaelDC — Thu, 06 Jun 2019 09:52:30 GMT

Once you have started the amendment process, select I need to change (amend) my return for a different reason as your reason for amending. Then select Personal Income. Once you have selected the Personal Income option, follow the steps below to change your cost basis:

1. Enter the 1099 as is then

2. Click Add More Details or Edit

3. Select the option "I'll enter additional info on my own" (or just click Continue if the "on my own" button isn't present)

4. Scroll to "Corrected cost basis"

5. Enter the correct basis (in most cases the same as your "Proceeds")

6. Click Done

Tip: Don't confuse boxes A, B, D, E, and X on your TurboTax screen with the 1a, 1b, 1c (etc.) boxes on your 1099-B form. These are two completely different things.

Boxes A, B, D, E, and X often appear as headers or section titles on your 1099-B form instead of literal boxes. Exact wording varies between brokerages; for example, Box A from 3 different brokerage statements might read:

· Short-term transactions for which basis is reported to the IRS—report on Form 8949 with Box A checked.

· Short-term transactions for which basis is reported to the IRS--report on Form 8949, Part I, with Box A checked.

· Short-term transactions for which basis is reported to the IRS—report on Form 8949 with Box A checked and/or Schedule D, Part I.

Nevertheless, they all mention Box A, so you'd check Box A in TurboTax and the next screen will open the 1a–1g boxes which correspond to your 1099-B form. Boxes B, D, E, and X work the same way.

topic How do I amend when the item I am changing does not appear on TT's list of "why are you amending?" choices? in After you file

How do I amend when the item I am changing does not appear on TT's list of "why are you amending?" choices?

Once you have started the amendment process, select I nee...